Current Events > Credit is nuts once you get enough of it

(+) Yeah! (+)

Just realized tonight I've got 60k in lines of credit available (all under 6%)

Another 51k available in credit cards.

I could damn near finance a luxury car on personal credit if I wanted to... but for the most part I'm scared of utilizing it (most i've done thus far is purchase a 15k car on a line of credit).

The scariest part is other than one $7500 line of credit and the starter cards I've applied for with banks, I haven't applied for any of these lines or increases, they all just do it automatically.
---

I guess you could put 51k down on a car then finance a the other 60k. You don't want to get stuck living up to your income though.

What sort of line is 60K under 6%?

And why would you use a line to buy a car and not a car loan?
---

60k is spread over 3 lines. I used it to finance a used car loan because the dealer quoted me 6% and my personal line was 5.5%. I also wanted the flexibility to pay it back as quickly as possible.
---

ITT: Things you should never do with your credit card.
---

if I had credit I'd probably spread out purchases and buy stuff that I want, and know I could pay back but don't want to spend the time waiting for it to not be kind of a hit to my paycheck. Like manga box sets or a new PS4 since my old one is getting to that point where it could just stop working any minute
---

fan357 posted...

ITT: Things you should never do with your credit card.

Yeah they didn't increase my credit limits by me spending the entire amount and not paying it back.

More like "this is what they've given me and it scares the living crap out of me to spend that amount"
---